Applying For Student Credit Cards

By Mike Hughes

It is advised for college students to apply for a credit card because it can help students to create a credit history, which they will need in the future especially in obtaining loans including car, housing or even cash loans. For students applying for a credit card, make sure to obtain a secured credit card to help build credit. Also, student credit cards are only available for students who have lived in the United States before. Full time students can contact their banks to receive a student credit card and the banks their banks will handle the request. Furthermore if your application for a student credit card is denied, then you will need to find someone with good credit standing to act as your guarantor.

The benefits of student credit cards are to help students learn responsibility in handling money, learn about interest and debt, and the chance to boost their credit scores. The disadvantage is that students must realize that this is “real money” and that the debt must be repaid with interest.

There are six tips for college students applying for their first credit card. First, watch out for on-campus solicitations by credit card issuers offering “free” promotions. Second, if you’re overwhelmed by marketing offers for credit cards, contact the federally mandated credit bureau solicitation “opt-out” list at (888) 5-OPT-OUT. Third, you can lobby your school or student government to stop sharing your personal information with credit card companies. Fourth, make sure to pay your balances in full and on time every month to avoid interest charges and late fees. Fifth, if you can’t pay the full credit balance, then make sure to pay the largest possible payment every month. Finally, watch out for changing due dates as credit card companies will often change the date with little notice.

The top credit cards determined for college students are:
1. Citi mtvU Platinum Visa for College Students
2. Discover Student Card
3. Discover Open Road Card for Students
4. Capital One No Hassle Rewards Card for Students

Sources:
http://ezinearticles.com/?Applying-for-a-Student-Credit-Card&id=235460

http://www.moneybluebook.com/the-best-student-credit-card-rewards-and-offers/

http://www.creditcards.com/credit-card-news/6-tips-for-college-students-considering-credit-cards-1279.php